Successful retention programmes and a lack of new talent, creating pressure on the skills gap within cyber security.
The results of BeecherMadden’s 2017 salary survey, have shown that the skills gap in the cyber security recruitment market is getting worse. Much has been made of the skills gap in recent years and candidates have moved roles regularly, often gaining large pay increases when they do. In the past 12 months, companies have started to invest more in retaining the skilled employees they have. As a result, 45% of BeecherMadden candidates expect to receive an internal promotion as their next job, up from just 12% a year ago. Also contributing to the squeezed market place, fewer candidates are actively looking for a new role. Just 18% of candidates said they were actively looking for a new role, down from around 70%, 12 months ago.
There are now fewer candidates available with between 1 and 3 years experience. Recent graduates, with qualifications but limited experience find that they secure roles within weeks of graduating, such is the demand for talent. The lack of candidates at this junior level, has contributed to pay increases at this end of the market. A candidate in cyber security with just 3 years experience, can expect to earn £40,000; perhaps more if they have specialised in an area such as penetration testing. This end of the market has seen the biggest pay increase in the past 12 months, up 20% on a year ago.
BeecherMadden is a niche recruitment company, focused on corporate governance, resilience & security. BeecherMadden have offices in New York, and London and supply global organisations with talented individuals for permanent and interim positions.